Collaborative robots: China's FAIRINO raises about 1 billion yuan, led by Meituan

The two rounds total about 1 billion yuan, according to the Chinese portal China Robot Network, cited by 로봇신문.

They were led in particular by the investment arm of Chinese internet giant Meituan, with several other investors taking part.

FAIRINO says it will spend the funds on production equipment for its key components, on increasing its robot manufacturing capacity, and on research and development.

The company has already signed a supply agreement for 2,000 arms from its ART series, which it describes as humanoid, with Boyin Hechuang (博银合创), a joint venture between a subsidiary of the Bosch group and Galbot. A second contract, for 2,000 units, was agreed with JACK, a specialist in automated sewing, for its production sites.

This year, FAIRINO is aiming for a 68% rise in its global orders compared with last year, and expects overseas revenue to grow by 87%.